Shares rise 177 percent after successful vaccine test
A cancer vaccine from the companies Merck and Moderna has shown positive initial results.
The vaccine slows the return of aggressive skin cancer.
The news caused Moderna's shares to surge on the stock market.
A new, personalized cancer vaccine from Merck and Moderna has shown positive initial results. The companies announced this on Wednesday.
The results mean that the treatment is one step closer to a possible application for approval, according to CNBC.
Moderna, together with industry colleague Merck, has developed a vaccine based on mRNA therapy. The vaccine slows the return of malignant melanoma, the most aggressive form of skin cancer.
The stock soared
Merck's stock rose more than 12 percent on Wednesday, while Moderna's stock soared about 177 percent.
The large differences in price movements reflect the size of the companies. Before Wednesday, Merck was worth about $ 333 billion and Moderna about $ 25 billion.
- It is a big moment for medicine and a big moment for patients, said Moderna CEO Stéphane Bancel in an interview with CNBC.
Several other forms of cancer
The Phase 3 study continues and will, among other things, investigate whether the treatment also improves overall survival.
The companies plan to present the results at an upcoming international medical congress. It is still unclear when they will apply for approval in the United States.
Merck and Moderna are already investigating the vaccine in clinical trials against several other forms of cancer, according to CNBC.
Among other things, non-small cell lung cancer, bladder cancer and renal cell cancer.
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